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Wells Fargo CEO Stumpf To Forfeit $41 Million As Probe Launches After Fake Account Scandal

Wells Fargo & Co said on Tuesday that it had launched an independent investigation into the firm’s retail banking sales practices. Wells Fargo, the United States’ third-largest bank by assets, agreed to pay $190 million earlier this month to settle regulatory charges that some of its employees opened as many as 2 million accounts without customers’ knowledge, in order to meet sales targets.
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